NDB Bank recently signed a Memorandum of Understanding (MoU) with Hayleys Solar, the renewable energy arm of Hayleys Fentons, recently to launch the “Solar Facilities under Aachara Pensioners’ Loan Scheme.”
The signing marked the official partnership between the bank and Hayleys Solar, and was highlighted by the presence of key representatives from both NDB and Hayleys Solar, including the Pensions Director.
Pensioners play a vital role in the social fabric of Sri Lanka, having dedicated years of service to the country. Recognising their contributions, NDB is offering this unique loan facility to ensure they can lead a comfortable and eco-conscious retirement. All pensioners under the Department of Pensions in Sri Lanka can now apply for these solar loans, benefitting from a range of advantages designed to make their transition to solar energy seamless and affordable.
NDB’s solar loan facilities offer pensioners up to Rs. 4.5 million, which is a credit facility 100% funded by the bank, with a competitive interest rate. The loans come with a flexible repayment period of up to 15 years, subject to a maximum age limit of 75 years, ensuring manageable monthly payments. Additionally, there are no security requirements, making the application process straightforward and accessible.
Importantly, the loan includes life insurance coverage, ensuring that in the unfortunate event of the borrower’s death, the loan will be fully settled by the insurer, providing peace of mind for the borrower and their family.
Hayleys Solar, a leader in renewable energy solutions, brings additional benefits to this partnership. Benefiters can also enjoy an attractive 12% discount on their solar units from Hayleys. Additionally, obtaining necessary approvals from relevant authorities and offering comprehensive after-sales services for the solar panels have also been streamlined, ensuring long-term efficiency and support. This initiative falls under Hayleys Solar’s new endeavour, the ‘Nayak Nowena Nayak’ program.
The collaboration between NDB and Hayleys Solar aims to facilitate the adoption of renewable energy among pensioners while also aligning with global sustainability goals. By transitioning to solar power, pensioners can significantly reduce their electricity bills and carbon footprint. Additionally, there is also the opportunity to earn an additional income by selling the excess electricity generated back to the grid, contributing to a greener and more sustainable future for Sri Lanka.
The MoU being signed and handed over between the officials of NDB and Hayleys
